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PSG

Updated: Feb 6



"PSG" refers to Productivity Solutions Grant, a government grant that helps Singapore companies improve their productivity through IT solutions and equipment.


It's a great program that can help Singaporean businesses improve their productivity and efficiency. Here's some information to get you started:


What is the PSG?


The PSG is a government grant that co-funds up to 50% of the eligible costs for companies to adopt pre-approved IT solutions, equipment, and consultancy services. These solutions are aligned with industry roadmaps, such as the Industry Transformation Maps (ITMs) and Industry Digital Plans (IDPs), to ensure they're relevant and impactful for your business. 


Who is eligible?


The PSG is open to all Singapore-registered businesses, except for those in ausgeschlossene Branchen (excluded industries). You can check the eligibility criteria on the GoBusiness website.


What are the benefits?


There are many benefits to applying for the PSG, including:


  • Increased productivity: By adopting new technologies and processes, you can save time and resources, which can then be reinvested in growing your business.

  • Improved efficiency: The PSG can help you streamline your operations and make your business more efficient.

  • Enhanced competitiveness: By staying ahead of the curve with new technologies, you can gain a competitive edge in your industry.

  • Financial assistance: The grant can help you offset the costs of adopting new technologies, making it more affordable for your business.


How to apply


You can apply for the PSG online through the Business Grants Portal. The application process is relatively straightforward, but it's important to make sure you meet all the eligibility criteria and submit all the required documentation.


Here are some additional resources that you may find helpful:



Xero Accounting Software with Productivity Solutions Grant (PSG)


The Productivity Solutions Grant (PSG) is a Singapore government initiative that helps businesses like yours adopt and integrate pre-approved IT solutions to enhance their productivity and efficiency. One such pre-approved solution is Xero, a popular cloud-based accounting software.


Benefits of using Xero with PSG:


  • Up to 50% funding: The PSG can cover up to 50% of the costs associated with subscribing to Xero, its implementation, and training, making it an even more attractive option for businesses looking to streamline their finances.

  • Improved financial management: Xero offers a wide range of features that can help you manage your finances more effectively, such as automated data entry, bank reconciliation, expense tracking, and invoicing.

  • Increased efficiency: Xero is cloud-based, which means you can access your financial data from anywhere, anytime. This can save you time and effort compared to traditional desktop accounting software.

  • Enhanced collaboration: Xero allows you to share your financial data with your accountant, bookkeeper, or other stakeholders with ease. This can improve communication and collaboration, leading to better decision-making.

  • Compliance with IRAS: Xero is fully compliant with all IRAS filing requirements, so you can be sure you're always meeting your tax obligations.


Eligibility:


  • Your business must be registered in Singapore.

  • Your business must not be in one of the ausgeschlossene Branchen (excluded industries).

  • You must meet the minimum qualifying spend for the PSG (S$7,000 for IT solutions and equipment, S$3,000 for pre-configured bundles).


How to apply:


  1. Get a quotation from a pre-approved Xero vendor. You can find a list of pre-approved vendors on the GoBusiness website.

  2. Submit an application on the Business Grants Portal (BGP). You will need to register for a CorpPass account to transact on the portal.


Additional resources:



QuickBooks and Accounting Software Grant in Singapore


Government grants in Singapore can help businesses like yours adopt accounting software like QuickBooks. Here's one:


Productivity Solutions Grant (PSG):


  • Grant: Up to 50% of pre-approved IT solutions and implementation costs.

  • Eligibility: Most Singapore-registered businesses except for excluded industries.

  • QuickBooks eligibility: Yes, QuickBooks Online is pre-approved under the PSG scheme.

  • Application: Submit online through the Business Grants Portal.

  • Resources:

  • PSG website

  • QuickBooks PSG page


How Bestar can Help


Now you're specifically interested in learning how Bestar can assist with Xero, and QuickBooks in Singapore. Here's a breakdown of assistance:


Bestar can offer bundled solutions with implementation services.


Xero Accounting Software:


  • Implementation and setup: Bestar can help you migrate your data, configure Xero to your specific needs, and train your staff on using the software efficiently.

  • Ongoing support: We can provide ongoing technical support and answer any questions you have about using Xero's features.

  • Customization: Bestar is able to customize Xero workflows and integrations to fit your unique business processes.


Xero Quotation from Bestar S$1,500 (excluding GST)

  • Implementation and setup

  • Training on using the software

  • Ongoing technical support

  • Costs associated with subscribing to Xero (one year)


QuickBooks:


  • Similar to Xero, Bestar could offer implementation, setup, training, and ongoing support for QuickBooks. We are a certified QuickBooks advisor.


QuickBooks Quotation from Bestar S$1,250 (excluding GST)

  • Implementation and setup

  • Training on using the software

  • Ongoing technical support

  • Costs associated with subscribing to QuickBooks (one year)


Contact Bestar to discuss our specific services and expertise related to Xero, and QuickBooks in Singapore. We can give you the most accurate and personalized information regarding our capabilities and how we can assist your business.




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